'There's always room for more orange': Saylor hints at another bitcoin buy, but a holiday may keep Strategy's filing back until Tuesday

Michael Saylor has hinted that Strategy may have bought more bitcoin. The company's chair posted on X on Sunday, "There's always room for more orange," above a chart of Strategy's past purchases. Similar posts came before the company's last two purchase announcements, but the post itself confirms nothing.

Investors will probably wait longer than usual to find out. Federal offices are closed on Monday for Columbus Day, so any notice through a Securities and Exchange Commission filing is unlikely before Tuesday, October 13, Cointelegraph reported.

Strategy held exactly 848,000 bitcoin as of October 4, according to a filing dated October 5, after buying 334 bitcoin for $28.7 million. Saylor's chart puts the average cost at about $75,441 a coin, or about $63.97 billion in total, Bitcoin.com News reported.

The company has lately spent more on its own preferred stock than on bitcoin. In the week to October 4 it repurchased about 1.77 million STRC shares for $176.3 million, roughly six times its bitcoin spending, according to Cointelegraph.

Analyst Shanaka Anslem Perera, reading the company's filings, calculated that Strategy raised $5.41 billion from new common shares in the third quarter and put 9.5% of it directly into bitcoin, ending the quarter 1,666 coins higher. He told Cointelegraph that raising capital does not necessarily mean buying bitcoin, though retained cash can fund later purchases.